Oman- MSM30 rises as block deals boost activity

5/2/2016 2:48:22 PM

(MENAFN- Muscat Daily) Muscat-

Continuing its positive performance on Monday Oman's benchmark index moved up 0.07 per cent to close at 5952.10 as block deals helped boost trading activity.

Market turnover soared 158.74 per cent to RO10.96mn while volume increased 2.16 per cent to 23.4mn shares. Of the 42 stocks traded 13 closed up while 11 slipped and 18 remained stable. The MSM Shariah index closed up 0.14 per cent at 882.05.

The Financial sub-index posted a daily gain of 0.46 per cent at 7765.12 followed by the Services gauge (+0.44% at 3244.81). The Industrial index however closed down 0.22 per cent at 7209.10.

Top gainers on the bourse included Oman Hotels & Tourism (+9.96 per cent) National Gas (+9.44 per cent) and Oman &Emirates Investment Holding (+9.16 per cent) while laggards included Gulf Investments Services Preferrential Shares (-3.51 per cent) Construction Materials Industry (-2.78 percent) and Galfar Engineering (-2.5 per cent).

Oil fell for a second day after Iraq's oil exports approached a record high in April adding barrels to a worldwide supply glut.

Brent for July settlement dropped as much as 70 cents or 1.5 per cent to US$46.67 a barrel on the London-based ICE Futures Europe exchange.

By special arrangement with Oman Arab Bank - Investment Management Group

- With inputs from Bloomberg

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